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Published: 15 May 2012

Wages and salaries sum grew by 6.2 per cent in January to March

According to Statistics Finland, the wages and salaries sum of the whole economy was 6.2 per cent greater in the past January to March period than in the corresponding period twelve months earlier. In March alone, the wages and salaries sum of the whole economy grew by 5.7 per cent year-on-year. In the January to March period one year ago, the wages and salaries sum grew by 4.9 per cent.

Year-on-year change in wages and salaries sum in the 1–3/2012 and 1–3/2011 time periods, % (TOL 2008)

The wages and salaries sum went up in the January to March period in all the industries for which statistics are compiled. The growth was fastest in construction (13.3%) and private health and social work (11.1%). The rising of the wages and salaries sum was most moderate in manufacturing and financial intermediation.

The wages and salaries sum refers to the sum total of the gross wages and salaries paid to employees without incentive stock options. The wages and salaries sum is influenced by changes in employment and in the earnings level of wage and salary earners.

The one-off item according to the framework agreement increases the wages and salaries sum at the beginning of 2012

At the end of 2011, central labour market organisations concluded a framework agreement that covers over 90 per cent of wage and salary earners. As part of the framework agreement, wage and salary earners of the sectors bound by the agreement are paid a one-off item of EUR 150 together with the first wage payment of 2012 or in connection with the first wage payment of the later starting agreement period. The effect of the one-off item will also be visible in the figures of the wages and salaries sum for the first months of 2012.

Source: Wage and salary indices, Statistics Finland

Inquiries: Tuomas Remes 09 1734 3682, palvelut.suhdanne@stat.fi

Director in charge: Hannele Orjala

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Appendix tables

• Appendix table 1. Year-on-year change in the sum of wages and salaries by industry, % (TOL 2008) (15.5.2012)

Figures

• Appendix figure 1. Trends in the sum of wages and salaries by industry (TOL 2008) (15.5.2012)

Revisions in these statistics

• Revisions in these statistics (15.5.2012)

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Updated 15.5.2012